Quietly, through its parent company, Google has been investing heavily in blockchain and crypto companies since September 2021.
Google is a giant technology company that is one of the pillars of the US stock price index.
The crypto industry, which continues to grow in the long term, has attracted the interest of many companies, which obviously has not bypassed a giant company like Google.
Google invests in Blockchain and crypto companies
Based on the report CointelegraphGoogle’s parent company, Alphabet, has become the public company with the largest investments in the blockchain and crypto industry.
It is known that from September 2021 to June 2022, the giant company invested 1.5 billion US dollars, which is equivalent to 22.1 trillion rupees.
According to data shared by Blockdata, Alphabet is the investor with the deepest pockets compared to the 40 public companies investing in the blockchain industry at the time.
Google is known to have concentrated its investment funds on four blockchain companies, such as platform FireBlocks crypto asset trading company web3 game Dapper Labs, Bitcoin Voltage and pemodal venture Digital Currency Group.
Looking at investment value, this looks very inversely proportional to Google’s diversification last year which was only worth $601.14 million.
In addition to Google, large companies that invest heavily in cryptocurrencies are BlackRock, Morgan Stanley and Samsung.
Morgan Stanley and Black rock it is known to use an investment strategy that is almost the same as Google, which is concentrated in only two or three companies. While Samsung is more active investing in 13 different companies.
“A lot of this [perusahaan tersebut di atas] enter an industry like gamearts and entertainment and distributed ledger technology (DLT),” the Blockdata report said.
While the rest, many set on blockchain-as-a-service (BaaS) providers, infrastructure, platform smart contractsolutions for scalability and platform crypto asset storage service provider.
In addition to large companies, large banks are also starting to increase their exposure to crypto and blockchain companies, due to the increasing interest of their clients. Some of them are United Overseas Bank, Commonwealth Bank of Australia and BNY Mellon. [st]